Tech
AMD loses less than expected
Advanced Micro Devices loses far less than analysts expected in the fourth quarter, although year-over-year sales fell 19 percent.
Advanced Micro Devices lost far less than analysts expected in the fourth quarter, although year-over-year sales fell 19 percent.
After market close Wednesday, the second largest maker of PC processors reported a fourth-quarter loss of $15.8 million, or 5 cents per share, on sales of $951.9 million. First Call's survey of analysts predicted a loss of 18 cents per share on revenue of $839.7 million.
Fourth-quarter sales increased 24 percent from the previous quarter.
AMD on Wednesday said it projects revenue to fall to about $900 million in the first quarter, with a net loss. The company expects to ship about 7.8 million processors in the first quarter--roughly the same total as the fourth quarter--at an average price of $90 each.
More to follow.